Stanley just reported cashing in insurance policies against outstanding debt, apparently income neutral, asset neutral, and providing access to $15 million in new debt.

BUT, just in third quarter, they auctioned off all their Young America equipment for $8+ million, and are in process of selling the property.

Today's disclosure stated the reason for the restructuring of the insurance policies was due to in carry forward losses; through third quarter, Nine month results were . So, the fix to their problems was dumping Young America, liquidating Stubbensville, and another $15 MILLION IN LOSSES.

thx for sharing, hard to see potential interested party able to get large block of shares at around current level with it so thinly traded and most of institutional holders are LT deep value "suckers". Don't see it need external funding with YA gone and stronger dollar benefiting its import model.

Any insight into that Chinese buyer(s) - they have been trying to expand biz here?

It is something, and sad, that this company has come this far. The plant from the start years ago back in the 50 as Burlington Carpets, then Raleigh Road Furniture, to Stanley Furniture to now. I can remember the lumber yard full and things gradually happened and you saw less and less lumber in the yard. The upper management had said that the Robbinsville plant was the most efficient. Then things started to change, think about 10 years ago. Upper management changed, they came in here and started cutting all of those that had been with the company for years loose. You know those people that knew the plant from one end to the other. And with that came “Lean Management”. They were told from the start by someone that lean management would not work for a furniture company. I remember when they had two buggies of parts cut for a night stand that they were dropping. Instead of storing them back on the lower 80 acres, as I call it, they put them in the grinder. After a few months, guess what, they had to make some more night stands.

Then came the items they started getting manufactured in China. I remember being at the plant one time and they had to un-box some 300 headboards because the holes for the frames had been drilled at the wrong location. Thinking of all the time it took to un-box, plug, re-drill the holds and then box back up again. Not a way to make money on the item that is for sure.

Stanley did have some good sellers. The Norman Rockwell collection went well for us here in Robbinsville and also the 5 way tied upholstered furniture.

Now you go by the plant and there are a dozen cars there. I hope this China thing can get things to going for the area.

The CEO is a loser buddy....get out of this dog. I gave this advice to you before. As long as current management is in place, shareholder value WILL NOT be created. Just my opinion....worth what you paid for it.

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